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re: What’s the smartest financial decision you’ve ever made?
Posted on 8/5/26 at 10:31 am to FlyingTigerBo
Posted on 8/5/26 at 10:31 am to FlyingTigerBo
We don't have kids.
Posted on 8/5/26 at 10:32 am to FlyingTigerBo
I have more than just one, apologies that I can't follow instructions.
1. Marrying the right woman. She also ended up as a senior VP of a large financial firm. That's a nice bonus.
2. Never trying to time the market. As the saying goes, "time in the market always outperforms trying to time the market". Make your buys and let time and compounding interest do it's thing.
3. Stayed away from carrying credit card debt as much as possible. It happened from time to time when my wife and I were young and broke, but we would erase that debt as soon as we possibly could.
4. We always have a budget. No matter how much money we make, we always have a budget that was below our means. We aren't always strict, but the guardrails are always there.
5. Didn't buy expensive cars. We buy nice cars, mostly new as well, but nothing extravagant or overly expensive and we keep them for a long time. Vehicles are a financial drain on multiple levels, it's a place that can get out of hand financially if you aren't careful.
6. Real estate. We bought some rentals properties cheap and sold them at opportune times for a significant gain.
1. Marrying the right woman. She also ended up as a senior VP of a large financial firm. That's a nice bonus.
2. Never trying to time the market. As the saying goes, "time in the market always outperforms trying to time the market". Make your buys and let time and compounding interest do it's thing.
3. Stayed away from carrying credit card debt as much as possible. It happened from time to time when my wife and I were young and broke, but we would erase that debt as soon as we possibly could.
4. We always have a budget. No matter how much money we make, we always have a budget that was below our means. We aren't always strict, but the guardrails are always there.
5. Didn't buy expensive cars. We buy nice cars, mostly new as well, but nothing extravagant or overly expensive and we keep them for a long time. Vehicles are a financial drain on multiple levels, it's a place that can get out of hand financially if you aren't careful.
6. Real estate. We bought some rentals properties cheap and sold them at opportune times for a significant gain.
Posted on 8/5/26 at 10:35 am to FlyingTigerBo
I've made financial decisions that turned out to be good but I guess the best financial decision I ever made was getting life insurance.
It was actually my wife's idea.
It was actually my wife's idea.
Posted on 8/5/26 at 10:37 am to FlyingTigerBo
I got a financial advisor that was new to the business about 20 years ago. He had a fresh set of eyes and ideas and has made some great investments over the years.
Posted on 8/5/26 at 10:53 am to RolltidePA
quote:
RolltidePA
Thought this was my post but for the Sr VP spouse.
Great stuff! Congrats.
Bet yall have more life options than the young / broke pair of you could have ever imagined possible.
So wish more people in our society would / could have taken similar path (2-5 in your list in particular).
This post was edited on 8/5/26 at 10:55 am
Posted on 8/5/26 at 11:03 am to FlyingTigerBo
quote:
start early and when you talk to a financial advisor you will realize how much you already know.
A smart financial decision is not hiring a financial advisor and just putting your money into an index fund or etf. Financial advisors are completely worthless. Maybe about the same amount of worthlessness as real estate agents.
Posted on 8/5/26 at 11:51 am to FlyingTigerBo
Investing in my children. Between the new Trump accounts and college 529 accounts that can roll over into Roth IRAs, my two daughters should have about $200,000 each in Roth accounts by age 25. I think I had $5,000 in a retirement account on my 30th birthday.
Posted on 8/5/26 at 11:52 am to Burt Reynolds
I agree. No need for financial advisers in today’s day and age.
Posted on 8/5/26 at 11:54 am to northgate5
Self proclaimed millionaire baby tac was asking for an Edward Jones advisor on the money board
Posted on 8/5/26 at 12:09 pm to LSUneaux
Who’s going to teach this? Teachers are as stupid as the kids.
Posted on 8/5/26 at 12:31 pm to LSU921
quote:
Some people here knock Dave Ramsey, but it’s good, solid advice. Changed my life.
The knock on Ramsey is that his advice is good for people without financial discipline. People with such discipline would benefit from better advice.
Posted on 8/5/26 at 12:36 pm to FlyingTigerBo
Investing a lot early, even though I couldn’t afford it.
Posted on 8/5/26 at 12:40 pm to Gee Grenouille
Best: Buying and holding NVIDIA and AMD for several years
Worst: Marrying the wrong woman
Worst: Marrying the wrong woman
Posted on 8/5/26 at 12:41 pm to FlyingTigerBo
Not being afraid to quit a job if someone else gave me a better offer. This is especially important early on in your career. Less benefit and more headache later.
Posted on 8/5/26 at 12:42 pm to FlyingTigerBo
Paying off my house instead of investing the money in the stock market
Posted on 8/5/26 at 12:43 pm to FlyingTigerBo
I made $120k on a $3k investment in a Taylor swift memecoin
Posted on 8/5/26 at 1:15 pm to FlyingTigerBo
Not getting married and getting sober.
Posted on 8/5/26 at 1:26 pm to FlyingTigerBo
Subscribing to Portfolio123.com. Back testing investment ideas is invaluable
Posted on 8/5/26 at 4:21 pm to FlyingTigerBo
Buddied up with EBR school superintendents. They throw around a lot of tax payer money.
Posted on 8/5/26 at 4:24 pm to NIH
quote:
Self proclaimed millionaire baby tac was asking for an Edward Jones advisor on the money board
A self proclaimed VP using Edward Jones?
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